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[Ben Kempton]

The regulation of cryptocurrencies has always remained one of the controversial topics. There are many governments and countries that actually want to regulate cryptocurrencies. Right now the Australian Treasury is also planning to regulate cryptocurrencies and they claim to use new methods to tackle this problem. They are planning to utilise the "Token Mapping" technique in order to evaluate the kind of cryptocurrencies being utilised in the region. This technique will also help to analyse the coding aspect as well. High officials of Australian Treasury like Jim Chalmers have stated that this could help the Australian government to take one step ahead towards regulation of cryptocurrencies. What are your views about this?

 

[Potuse]

too many regulation put pressure on traders , I feel the trader would actually dont know where and what to focus on when they see that more regulation are been imposed , there should be regulations but it shouldn't be way complex and difficult that the trades won't be able to bear

The regulatory framework actually put pressure on the traders and if the condition isn't favorable, most of them will liquidate the assets and liquidation will continue to reflect in the market value of the cryptocurrency thereby causing a serious decline. I am looking for a cryptocurrency ecosystem that is immuned from the regulation of the government.

 

[Wisdom01]

The regulatory framework actually put pressure on the traders and if the condition isn't favorable, most of them will liquidate the assets and liquidation will continue to reflect in the market value of the cryptocurrency thereby causing a serious decline. I am looking for a cryptocurrency ecosystem that is immuned from the regulation of the government.

its going to be difficult to see such kind of eco system ,now that there are really many government interested in crypto currency , it's going to be difficult ,now some government have seen that they could gain more taxes from cryptocurrency ,they are ready to impose regulation indeed

 

[Potuse]

its going to be difficult to see such kind of eco system ,now that there are really many government interested in crypto currency , it's going to be difficult ,now some government have seen that they could gain more taxes from cryptocurrency ,they are ready to impose regulation indeed

The deflationary feature of the Bitcoin is what is attracting so many government to it, because they knew it could be used to curb inflation.

The regulatory scrutiny will continue and I do not see it stopping in the future because as we get more involvement in Bitcoin, there will be more regulatory scrutiny.

 

[Wisdom01]

The deflationary feature of the Bitcoin is what is attracting so many government to it, because they knew it could be used to curb inflation.

The regulatory scrutiny will continue and I do not see it stopping in the future because as we get more involvement in Bitcoin, there will be more regulatory scrutiny.

I don't even think the regulatory affairs would end anytime from now , many government are seeing the benefits that comes with cryptocurrency , imposing taxes and others , the regulatory affairs is probably not ending anytime soon

 

[Potuse]

I don't even think the regulatory affairs would end anytime from now , many government are seeing the benefits that comes with cryptocurrency , imposing taxes and others , the regulatory affairs is probably not ending anytime soon

Leavying taxes on cryptocurrency related transactions is one of the tools the government are using to influence the crypto-currency market negatively. Initially, cryptocurrency is used to evade taxes, but with the governmental regulations here and there, it is becoming practically impossible to escape taxes by keeping your assets in cryptocurrencies.

 

[a_jerobon]

Leavying taxes on cryptocurrency related transactions is one of the tools the government are using to influence the crypto-currency market negatively. Initially, cryptocurrency is used to evade taxes, but with the governmental regulations here and there, it is becoming practically impossible to escape taxes by keeping your assets in cryptocurrencies.

Why would you want to escape taxes when that is what the government is depending for revenue? That is the money that is used to build a country's infrastructure and promote important projects.

The tax is usually a small amount that you can manage to pay if you accept it. Other businesses have always been taxed and so cryptocurrency taxing is just another way for the government to earn better revenue.

 

[Potuse]

Why would you want to escape taxes when that is what the government is depending for revenue? That is the money that is used to build a country's infrastructure and promote important projects.

The tax is usually a small amount that you can manage to pay if you accept it. Other businesses have always been taxed and so cryptocurrency taxing is just another way for the government to earn better revenue.

Overtime cryptocurrency has been used to evade taxes because it is not taxable. This is why most of the countries are making laws that will ensure they receive taxes on cryptocurrency transactions and that is the more reason why there are several regulatory scrutiny in cryptocurrency presently.

 

[Wisdom01]

Leavying taxes on cryptocurrency related transactions is one of the tools the government are using to influence the crypto-currency market negatively. Initially, cryptocurrency is used to evade taxes, but with the governmental regulations here and there, it is becoming practically impossible to escape taxes by keeping your assets in cryptocurrencies.

yeah I feel most government have already start imposing more regulation and it seems they know that many are evading tax through cryptocurrency and they actually want to stop that by introducing taxes and it actually seems that's Workin well no doubt , because they are able to regulate things

 

[Potuse]

yeah I feel most government have already start imposing more regulation and it seems they know that many are evading tax through cryptocurrency and they actually want to stop that by introducing taxes and it actually seems that's Workin well no doubt , because they are able to regulate things

The government are trying to make money from cryptocurrency through taxes and that is why they are embarking on the adoption of cryptocurrency by imposing serious regulations. This should be expected because the government are always looking for ways to make extra money from anything.

 

[Wisdom01]

The government are trying to make money from cryptocurrency through taxes and that is why they are embarking on the adoption of cryptocurrency by imposing serious regulations. This should be expected because the government are always looking for ways to make extra money from anything.

they actually are really in the road to making extra money from anything , I think the introduction of huge taxes is actually their target , that's why the government are always laying emphasis on tax , but they should not be introducing high taxes like that not to discourage traders

 

[Skysaint]

They've probably succeeded in this actually and it's very good for the cryptocurrency market as more and more people will get to know about the cryptocurrency market.
I think that the more people get to adopt the cryptocurrency idea, the more it becomes harder to even earn from the cryptocurrency market because I believe that earning from the cryptocurrency market was more profitable five years ago than it is now.

 

[Potuse]

they actually are really in the road to making extra money from anything , I think the introduction of huge taxes is actually their target , that's why the government are always laying emphasis on tax , but they should not be introducing high taxes like that not to discourage traders

It is true that the government are trying to make money off the cryptocurrency. It is not a bad idea either, but the regulations should be done modelling so as not to affect the decentralization feature of cryptocurrencies. Mind you, taxes could also be a tool to use in discouraging people from using the cryptocurrencies.

 

[Wisdom01]

It is true that the government are trying to make money off the cryptocurrency. It is not a bad idea either, but the regulations should be done modelling so as not to affect the decentralization feature of cryptocurrencies. Mind you, taxes could also be a tool to use in discouraging people from using the cryptocurrencies.

Yeah the regulation is really more now , but I think the decentralization wouldn't be too affected , since they can't stop people from trading cryptocurrency , cryptocurrency is very anonymous to the extent that the government can't impose their control

 

[Potuse]

Yeah the regulation is really more now , but I think the decentralization wouldn't be too affected , since they can't stop people from trading cryptocurrency , cryptocurrency is very anonymous to the extent that the government can't impose their control

Cryptocurrency regulation can not really affect the decentralized future. But it could influence it in a little way. The KYC scrutiny that is embarked upon by most of the cryptocurrency exchange is a way to influence the decentralized feature. This is why most of the cryptocurrency expert are really against the regulatory framework.

 

[Wisdom01]

Cryptocurrency regulation can not really affect the decentralized future. But it could influence it in a little way. The KYC scrutiny that is embarked upon by most of the cryptocurrency exchange is a way to influence the decentralized feature. This is why most of the cryptocurrency expert are really against the regulatory framework.

Without the kyc features I guess many are still trading cryptocurrency and it shows that it's not fully regulated of the decentralized features is not fully removed , the peer to peer trading is now what is commonly used , the government obviously have no control over this method of trading

 

[btaliat]

Regulating crypto should be welcomed instead of ouright ban that most countries always embark on. I just hope the Australian government will not go the way of the United States by introducing interest rates that are not friendly to the users. There should be a way the regulation will favour both the government and the crypto users.

 

[Riberet19]

I believe that regulation is always good to give credibility to the market and that large investors and institutions feel more comfortable when entering to invest in the cryptographic space which in the long term will make it more stable and little by little it will lose volatility which will make there are lower profits but these are more sustainable over time.

 

[Ben Kempton]

I believe that regulation is always good to give credibility to the market and that large investors and institutions feel more comfortable when entering to invest in the cryptographic space which in the long term will make it more stable and little by little it will lose volatility which will make there are lower profits but these are more sustainable over time.

Regulation will also give power to the government and this is something that we all must know. Regulation of cryptocurrencies means that the government can monitor your transactions and hold you accountable. They may even impose cryptocurrency taxes on you and this may not please everyone who are already paying heavy taxes. @Potuse @btaliat

 

[Riberet19]

Regulation will also give power to the government and this is something that we all must know. Regulation of cryptocurrencies means that the government can monitor your transactions and hold you accountable. They may even impose cryptocurrency taxes on you and this may not please everyone who are already paying heavy taxes. @Potuse @btaliat

If I am not very in favor of a strong and coercive regulation of cryptocurrencies because we would lose the pseudonymate or anonymity in the blockchain but if I am in favor of a small regulation of the companies that create these cryptos and that not anyone can create a cryptocurrency and steal all the money from investors as has happened many times so I think a regulation where morale is not touched or identity of the blockchain technology but that prevents any person create a cryptocurrency with to know what purpose i see it feasible

 

[Ben Kempton]

If I am not very in favor of a strong and coercive regulation of cryptocurrencies because we would lose the pseudonymate or anonymity in the blockchain but if I am in favor of a small regulation of the companies that create these cryptos and that not anyone can create a cryptocurrency and steal all the money from investors as has happened many times so I think a regulation where morale is not touched or identity of the blockchain technology but that prevents any person create a cryptocurrency with to know what purpose i see it feasible

There are already many regulations done in order to monitor and make cryptocurrency transactions much faster. There are many exchanges such as Binance that now require you to verify your account and send some sort of documents like identity cards or passports that could help you verify your account, so they have regulated cryptocurrencies to some extent.